Script “Close All” and other useful scripts for MetaTrader4.

The Script in the MetaTrader4 trading terminal is a small program that performs a one-time action and is disabled.

Metatrader 4 Scripts

At the end of this article you can download the “Close All” script and other scripts for managing multiple positions in the MetaTrader4 trading terminal. Continue reading

China – 70 years of economic development

The People’s Republic of China (PRC, China) was established on October 1, 1949 – 70 years ago. Since the proclamation of the People’s Republic of China in 1949, the ruling party has been the Chinese Communist Party (CCP). At present, the President of China is Xi Jinping (since 2013).

China's GDP growth

To date, China is:

  • the largest state in the world in terms of population (over 1.395 mln. people);
  • ranks third in the world in territory, yielding to Russia and Canada;
  •  the first economy in the world in terms of GDP (PPP);
  • It is a world leader in the production of most types of industrial products, including car manufacturing and consumer demand.
  • the largest world exporter (“factory of the world”);
  • It has the world’s largest gold and currency reserves.

And all this was achieved in 40 years of economic reform. Let’s take a look together at the main stages of the recent history of China.

Continue reading

Breakeven level information indicator for MT4.

Some forex trading strategies include splitting one position into several smaller ones, adding to already open positions or averaging.

ProfitLine on EURCHF

When opening several positions, it is not very convenient to manually calculate the breakeven level for all open positions in the MT4 terminal.

This task is greatly facilitated by a simple breakeven indicator. Continue reading

Setting the Moving Average to another indicator in the MT4 terminal

Technical capabilities of the MetaTrader 4 (MT4) terminal allow you to impose a moving average on any other indicator in the terminal.

RSI Indicator and Moving Average

In the picture above you see how a simple moving average with a period of 21 (red line) is applied to the standard RSI indicator with a period of 14 (blue line). How to do it yourself? Continue reading

Defining Forex Supply / Demand Zones (continued)

In this article, we continue to study the trading methodology from the demand/supply zones of Sam Seyden and his followers. You can familiarize yourself with the first article at the link – “Forex Trading from Supply and Demand Zones“.

USDJPYH4 -supply and demand zones

The trading strategy in supply / demand zones is quite simple and methodologically fundamentally not particularly different from trading at support / resistance levels. Continue reading

Forex trading from supply and demand zones

Trading in financial markets from levels (or zones) of supply and demand is traditionally associated with the methodology developed by Sam Seiden and his colleagues.

ping-pong from demand and supply

This methodology is extremely interesting for traders for several reasons. First of all, it is quite simple to understand and based on the basic principles of market interaction of supply and demand. It does not use complex technical indicators and, according to many traders, it provides significant advantages in the real trading of any financial instruments. Let’s delve into this methodology together. Continue reading

Trader’s workplace – how many monitors are needed

If you decide to trade seriously and for a long time, then sooner or later you will have a question: how many monitors are needed and how to organize your workplace correctly.

Linda Raschke's Workplace

In the photo above, you see the desktop of Linda Raschke, the author of the popular book “Street Smarts — High Probability Short Term Trading Strategies”. In this article I want to share with you my experience of working space organization for trading in the Forex market. Continue reading

Recession in the USA on the threshold – inversion of the US yield curve

The fall in yields on benchmark US government bonds (10-year) in the past few days has pulled down the entire long edge of the yield curve.

US10Y

This led to the inversion of the yield curve for a plot of 2 to 5 years. What does this mean and when should we expect a recession in the USA? Continue reading

Structure of the world forex market by country

Reuters agency published an interesting survey about the structure of the world forex market. The article refers to the fact that the UK, despite problems with withdrawal from the EU, has increased its share in international currency transactions in the Forex market.

Forex market structure by country

However, if we analyze the data specified in the article, we can derive an approximate structure of the entire world forex market. Continue reading

Mysteries of the forex economic calendar

The economic calendar is one of the most important information tools in trading. Numbers that appear in it depend on the actions of a huge number of traders, which leads prices for financial assets (currencies, stocks, etc.) to very volatile movements.

rabbit in the headlights

Do we understand where this data comes from and who provides it? Continue reading

Long-term levels on the main currency pairs of the forex market, gold and oil

Support and resistance levels are one of the most important methods of technical analysis on Forex.

Support and resistance levels

In this article, I quote the long-term levels for the main currency pairs on the forex market, as well as the US dollar index (USDX), gold and oil. Continue reading

How to trade in triangles on Forex

Triangle is a quite common technical figure on Forex. Traders need to know how to open positions in the triangle with the least risk.

False Breakdown of the Triangle on Forex

The technical figure Triangle and the principles of working with it are described in detail in the article “Figure of the technical analysis Triangle – use on a Forex”. In this article I will describe in detail the scheme of actions for the opening of trading positions in this technical figure on a real example. Continue reading

Dead cat bounce on forex

Dead cat bounce – a price model in financial markets, which means a false rebound in the price after a sharp drop in the asset. After the rebound, the price of the financial asset continues to go down.

Dead cat bounce on forex

This expression came to forex from the stock market, but can be applied to any financial assets. Continue reading

Golden rules of Forex trading

The forex market is a total hell. The most risky market in the world.

Trader at the gates of hell forex
And to survive on it, you must observe the basic rules of work in the foreign exchange market. Continue reading

Analysis of COT reports at forex – does this make sense?

Analysis of COT reports is one of the most popular methods for analyzing the dynamics of currency pairs in the forex market.

US. Commodity Futures Trading Commission
However, does the analysis of currency futures in the format of the weekly reports of the Commodity Futures Trading Commission have a practical advantage for trading in the foreign exchange market? Let’s understand. Continue reading

What is the technical analysis on forex and how to apply it correctly

One of the main analytical tools for a trader in the forex market is technical analysis.

Technical analysis on Forex

Technical analysis in the forex market is a set of analytical methods and analysis tools that, based on the study of the patterns of changes in price movements in the past, make it possible to determine the future direction of the price movement with high probability, and also to identify the best entry points to the market or opening positions. Continue reading

Candles – simple volatility indicator for the forex market

Candles is a simple technical indicator of Forex volatility for the MetaTrader terminal.

Indicator Candles on the EURUSD Daily chart
The Candles indicator draws the height of the candle with shadows in a separate chart window. Continue reading

Psychology in forex – can you believe the experts and whether there are “smart money”

In the currency market, the term “smart money” is very common, which means that some large institutional traders understand the market better, have access to insider information or analytical mechanisms that allow them to make better predictions.

Illusions in financial markets

A similar situation with the experts’ opinions on the forex market. We are surrounded by various professional opinions and forecasts that affect us from all types of media and the Internet. Continue reading

Trading psychology – how a human can be better than a robot in forex trading

In all the world’s financial markets in recent years, actively developing trade using algorithmic systems – robots. Many market participants are convinced that algo-trading forex is the future.

Forex trading
Either way, many are confident that the share of algo-trading in the financial markets will continue to grow, but it will not be able to dislodge a person, because it is he who pushes his ideas into algorithms that robots implement. No matter how complex the algorithm was built into the trading robot, this algorithm was put there by the person. Continue reading

Inside bar – technical setup on forex

The next trading week ended in the forex market by forming on the EURUSD currency pair a well-known technical set-up “inside bar” and this is an excellent opportunity to study and check the known Price Action setup in a real situation.
On the daily chart, you see this last candle at number 9.

Inside Bar on EURUSD Daily

For comparison and objective analysis, I identified on the chart all the inside candles and numbered them from 1 to 9. Continue reading